The Securities and Exchange Commission (SEC) is likely to approve all spot bitcoin exchange-traded fund (ETF) applications at the same time, according to Martin Bednall, former managing director at BlackRock and now CEO of Jacobi Asset Management. Steven Schoenfeld, CEO at VanEck-owned MarketVector Indexes, supported this claim and stated that the approvals could come sooner than previously expected, estimating a timeline of 3 to 6 months. Bednall also mentioned that BlackRock, being close to regulators globally, would not have pursued a spot bitcoin ETF application unless they anticipated SEC approval. Additionally, Christophe de la Celle, managing director at crypto investment firm Numeus, mentioned that BlackRock’s proximity to large investors like endowments and pension funds would be a positive factor for crypto markets. If approved, spot bitcoin ETFs could bring in $150 to $200 billion in investment over three years. The executives also suggested that spot ether ETFs are likely to be approved shortly after spot bitcoin ETFs.
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